Lewes, DE -- (SBWire) -- 09/02/2016 --Report forecast the global functional fluids market to grow at a CAGR of 4.41% during the period 2016-2020.
Functional fluids, such as lubricants, transmission fluids, hydraulic fluids, heat transfer fluids, and metalworking fluids, are prepared from base stocks, which are hydrocarbons, synthetic or biological in origin. Functional fluids offer high energy efficiency, productivity, sustainability, and the smooth running of different end-user businesses. The demand for functional fluids is highly dependent on end-user industries, such as automotive, transportation, and industrial machinery.
The report covers the present scenario and the growth prospects of the global functional fluids market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of functional fluids in different geographic regions.
The market is divided into the following segments based on geography:
- APAC
- EMEA
- North America
- ROW
According to the report, synthetic functional fluids gaining prominence will be a key driver for market growth. Innovation is an important factor for sustainability and growth of the functional fluids market. With regards to the changes in the application industry and regulatory developments, innovation is going to be a major factor accountable for market growth. Synthetic metal removal fluids have recently gained a lot of prominences, and they deliver benefits of excellent visibility during metal working operations. Keeping in view the changes in the different application industries and regulatory developments, the introduction and development of advanced products are acting as major factors for market growth.
Further, the report states that environment, health, and safety issues will be a challenge for the market. Environmental issues are major concerns, especially in the Americas and Europe, as end-users try to increase the tank life of the fluids through better house-keeping and recycling, as well as by using fluids having a longer service life. In many regions of the world, especially in Europe, there is a general trend toward the use of hydrocracked oil type functional fluids. The major issue is the avoidance of potentially carcinogenic polynuclear aromatics. Hydrocracked functional fluids are also less vulnerable to misting and evaporation. In addition, hydrocracked oils are cheaper than other available options such as synthetic base stocks that are used mainly in bio-lubrication.
Global Functional Fluids Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global functional fluids market: BASF, BP, Chevron Oronite, ExxonMobil, Shell, and TOTAL.
Market driver
- Recovery in automobile production is driving functional fluids market in automobile sector
- For a full, detailed list, view our report
Market challenge
- Environment, health, and safety issues
- For a full, detailed list, view our report
Market trend
- Demand for synthetic and semisynthetic metalworking
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 67 pages and 39 Exhibit "Global Functional Fluids Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product type, Market segmentation by applications, Global functional fluids market by geography, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-functional-fluids-market-2016-2020
Related Reports;
Global Smart Polymers Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-smart-polymers-market-2016-2020
Global Organic Trace Minerals for the Animal Feed Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-organic-trace-minerals-animal-feed-market-2016-2020
Global Seed Treatment Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-seed-treatment-market-2016-2020
About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.
Yearly/Quarterly Report Subscription: http://www.marketresearchreports.com/subscriptions
